Sudoswap: Cumulative trading volume crosses $100m milestone, but...
There has, however, been a steady decline in user activity on the platform.volume on the decentralized NFT marketplace has crossed the $100 million milestone, data fromWhile this remains notable, it is noteworthy to point out that daily trading volume on Sudoswap peaked at $2.3 million on 17 August 2022 and has since been on a downward trend. As of 25 February, trading volume on the decentralized NFT marketplace totaled $187,153.
For example, in August 2022, Sudoswap experienced an average of more than 800 new users every day. However, since the start of February, the platform’s average daily new user count has fluctuated between 50 and 20. On 23 February, it even hit a low of 19 new users.As expected, the reduced user activity on Sudoswap has led to a corresponding decrease in the number of daily transactions and the count of traded NFTs.
Further, Sudoswap currently registers a steady decline in protocol revenue. The downward trend in transaction volume means there have been fewer users on the platform, resulting in a loss of fees for Sudoswap. In fact, in the last 30 days, the total fees made by Sudoswap were $286,000, dropping by 8%. Within the same period, protocol revenue has also dropped by 28%, data from
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada's Howden, Thompson earn world championship silver in mixed team ski crossBAKURIANI, Georgia — Canadians Reece Howden and Marielle Thompson secured silver in the first\u002Dever mixed team ski cross world championship on Sunday.
Read more »
Study determines which Toronto team costs super fans the most to see on roadIt\u0027s not cheap and it will cost a lot of air miles
Read more »
Canada's Howden, Thompson earn world championship silver in mixed team ski crossBAKURIANI, Georgia — Canadians Reece Howden and Marielle Thompson secured silver in the first\u002Dever mixed team ski cross world championship on Sunday.
Read more »
RippleX developers propose cross-chain bridge with protection against hacksRippleX developers have proposed a cross-chain bridge with a new XRPL standard. The developers have addressed concerns related to bridge hacks, in light of the increasing attacks on cross-chain bridges. Developers from XRP Ledger (XRPL) and Ripple development lab RippleX have proposed a cross-chain bridge for XRPL in a bid to expand potential use cases […]
Read more »
Uniswap’s trading volume gives alarming signal; should you short UNIUniswap’s trading volume falls as revenue collected by the DEX declines. Traders go short against UNI as on-chain metrics suggest a negative outlook. According to recent data provided by the token terminal, the trading volume of UNI declined considerably over the past few days. The decreasing interest in the Uniswap DEX could be one of […]
Read more »
Synthetix: Massive growth noted in these areas, but DeFi performance stagnantSynthetix’s trading volume went up considerably in the last few weeks. Fees and revenue also increased, but TVL plateaued. Recently, Synthetix [SNX] got into the spotlight, thanks to its trading volume. Token Terminal revealed that SNX’s trading volume registered a considerable uptick over the last few weeks. The metric spiked during the second week of […]
Read more »